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Fingen’s 16 -year, $ 1,000 par value bonds pay 9 percent interest annually. The market price of the bonds is $ 1,120 and themarket’s required yield…

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​Fingen’s 16​-year, ​$1,000 par value bonds pay 9 percent interest annually. The market price of the bonds is ​$1,120 and the​ market’s required yield to maturity on a​ comparable-risk bond is 6 percent.

a.  Compute the​ bond’s yield to maturity.

b.  Determine the value of the bond to​ you, given your required rate of return.

c.  Should you purchase the​ bond?

a.  What is your yield to maturity on the Fingen bonds given the market price of the​ bonds?

_____________​% ​(Round to two decimal​ places.)

 
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